How JustAnswer Works:

Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.

Get a Professional Answer

Via email, text message, or notification as you wait on our site.Ask follow up questions if you need to.

100% Satisfaction Guarantee

Rate the answer you receive.

Ask Thomas Your Own Question

Thomas, Lawyer

Category: UK Property Law

Satisfied Customers: 6786

Experience: BA (Hons), PgDip, Practising Solicitor

28732269

Type Your UK Property Law Question Here...

Thomas is online now

hi
i bought a house 7 yrs ago with the hindsight of developing

Customer Question

hi

i bought a house 7 yrs ago with the hindsight of developing the land to the rear and side of the property into luxury dog boarding kennels which have now been completed and running for 3 yrs. all planning and red tape has been dealt with regarding this build and the additional buildings also come with future dwelling rights and currently are not subject to any loans or mortgage attached just the original house has a mortgage. we now wish to seperate the kennels from the house plot and keep the two in the same ownership. this as i think would give the kennels its own identity and we would be looking to borrow against this property. we have a valueation on the kennels based on bricks and mortor of around 100.000 which was done about 3/4 yrs ago.i have gave as much info as i can as to help with a response and allthough it sounds quite complicated it really should be straight forward i think?? so who can help or advise on the way forward

If there is mortgage registered against the legal title (ie. because of the house) then you would need the consent of the lender before you do anything.

In addition, they would require you to instruct a solicitor to arrange the partitioning of the titles and subsequent registration at the Land Registry.

You should instruct a solicitor anyway because this will have to be transfer by way of the land registry’s Transfer of Part form (TP1) with appropriate plans. You will also have to ensure that sufficient rights are granted to the land transferred and also reserved over the land, so that bot titles remain marketable and saleable following completion.

Basically, once you have the consent of the lender any property solicitor should be able to do it for you fairly quickly and not that expensively. It’s matter of looking at the titles, taking your instructions and ensuring that the rights are adequately provided for.

You will be fine.

Please remember to RATE my answer OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE or above if you are satisfied that you have received the correct legal advice (even if it is not the answer you wanted to hear), otherwise I do not receive any credit for answering your question.

If you are not willing to rate my answer as OK SERVICE, GOOD SERVICE OR EXCELLENT SERVICE then allow me to assist further by replying asking what clarification you require rather than rating my answer at levels below.

If you wish for me to provide you with further guidance on any question you may have in the future then please submit a further question to the board requesting me either by my profile or by marking your question. “FAO Tom”.

It depends entirely on the lender. It is for them to work out if the existing value of a mortgage can be safely secured against the land which you propose not to be transferred to a new title.

If the land to be transferred all the mortgage is small in comparison to the land that will be retained then they will probably be okay with it. The best way to start would be for you to speak with your lender and see what they suggest. It may be that you can send some plans in showing have a land is to be partitioned how to make an initial decision on.

thank you tom im fairly confident they will go for it especially if i bring them on board with the the raising of funds against the kennels, the funds will be to purchase 2 acres ajoining the kennel/house which at the moment is leasehold by ourselves its a no brainer i would have thought. one more question with regards to speaking to the lenders who/what department is the right one as i dont want to talk to some call center person.

would a personal face to face in branch be a better way in that way we could show exsisting plans and land concerned and maybe a site visit. im woundering if they may lend on the existing mortgage (house) as in theory i have raised the value of the property conciderably with the adition of extra buildings and therefore should have positive equity in the site as a whole upon a renewed conbined valuation

Ask a Solicitor

Get a Professional Answer. 100% Satisfaction Guaranteed.

104 Solicitors are Online Now

Type Your UK Property Law Question Here...

characters left:

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).